Intuitive Surgical Buys Shape-Sensing Technology From Luna Innovations

Intuitive Surgical will soon add a new asset to its portfolio. The company has signed a deal to buy the shape-sensing technology for medical applications currently the property of Luna Innovations, the latter firm revealed in a press release. The base price is $12 million, which is to be paid to Luna in two tranches. Luna could also receive up to an additional $18 million if certain technical and commercial milestones are reached.

For its money, Intuitive Surgical will receive not only the technology, but also its related patents. Additionally, it will hire an unspecified number of Luna engineering employees working on those assets.

Intuitive Surgical is currently the target of a buyout offer by "mini-tender" specialist TRC Capital, which has bid $405 per share for a small block of stock in the company. That number is well below the most recent closing market price of $439.12; not surprisingly, Intuitive Surgical has recommended that its shareholders not accept the offer.

So-called "mini" offers are solicitations for small blocks of stock. Typically, they target positions under 5% of outstanding shares and as such are not subject to some of the disclosure rules mandated by larger bids.

The article Intuitive Surgical Buys Shape-Sensing Technology From Luna Innovations originally appeared on Fool.com.

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